The US is experiencing a hot sellers’ market—and not just in major cities but in suburbs, vacation destinations and rural areas as well. With low inventory, record low mortgage rates, and more buyers in the market, getting a dream home is extremely difficult. But it’s not impossible! It’s more important than ever to come with the right aggressive offer, right away. Here are a few recommendations and a bit about how Ribbon can help.
There are lots of decisions to be made quickly when making an offer. Educating your client before they even look at a home can help eliminate time lost. Take due diligence, for example. The cost of due diligence is different in each state—some don’t even have a cost involved.
In North Carolina it can be between $500 and $2,000 depending on the home’s price. As a buyer, you want that fee as small as possible, so that it’s less of a financial loss if you decide to pull out of the deal. Sellers, naturally, want the due diligence to be higher. Is this a place that your client would be willing to pay a bit more to get your offer over the finish line? Ensure they’re aware of all possible outcomes so you can make informed decisions.
Taking a night to sleep on it is no longer an option. Clients must come pre-approved and ready to make the call day of. Our Ribbon Offer platform, available on iOS, allows buying agents to make an offer and negotiate on the go. No lost time. And when you work with Ribbon, your dedicated expert can contact the listing agent to explain our pre-approval process and why the buyer is qualified. It may seem small, but this human moment can have a big payoff when going up against iBuyers and big banks.
What used to count as an aggressive offer has become table stakes in today’s market. Sellers, in certain price points, are getting multiple offers, some sight unseen, some way above listing price, some that waive contingencies! At this point, not all selling agents are open to looking at offers that aren’t in all cash.
In the past, all cash has not been an option for all buyers, but Ribbon we can help. We’ll turn your client’s offer into all cash and waive contingencies so they can compete and win in today’s market. Once accepted, they can move in right away and work on getting financing later.
Speaking of banishing barriers, to eliminate deal fall through and create a more sure offer environment for all, Ribbon offers appraisal protection. Here’s how it works. First we’ll value the home your client is looking at. We’ll then let you know the Ribbon Max Value for the home so you know how much we can back your buyer with cash. We’ll protect up to this amount. That’s it. You’re safe, even if the home is under appraised, and the seller has one less thing to think about.
Ribbon is here to help home buying achievable for all. We have everything you need to help your client win in today’s market. Interested in learning more? Your dedicated expert is happy to chat—free of charge.